rohith
asked over 3 years ago
Tax on Kisan Vikas Patra
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2 Answers
SONIYA
answered over 3 years ago
There is no Tax benefit for investment in Kisan Vikas Patra which makes it a less lucrative investment .Amount invested in the Kisan Vikas Patra cannot be claimed as deuction U/S 80C . Interest on KVP is taxable on accrual basis and will be taxed as Income from Other Sources on the basis of slab rates . TDS is not deductible on Interest on KVP.
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Archana
answered over 3 years ago
Hie Rohith, There is no incentive for investment in KVP and Interest on **KVP is taxable on accrual basis and will be taxed as Income from Other Sources**. deduction under section 80C is not allowed on this investment. TDS is not deductible on Interest on KVP .
